by Jeb Foster
If you do this sort of thing, you may find it hard to get life insurance …
Life insurance for extreme athletes
Most life insurance companies want nothing to do with extreme athletes—their chosen hobbies are simply too risky for most carriers to stomach. (Unless, of course, the athlete is willing to pony up for hefty premiums … )
Health insurance for extreme athletes
Same story: If you wear a squirrel suit (pictured) on the weekends, most health insurance companies will take a pass. Those that don’t will charge steep rates to compensate for insuring your death-defying antics.
Disability insurance for elite athletes
While most people can (and should) get disability insurance, which covers against loss of the ability to earn an income, it’s a bit more complicated (and expensive) for professional and soon-to-be professional athletes. Disability policies for elite athletes are only available through a few high-end insurers, including Chubb’s and Lloyd’s of London. Such policies typically cover loss of income and endorsements due to injury, and some policies even provide college draft protection: if an athlete decides to finish school, he or she can insure against the risk of career-ending injury.
Travel insurance for the globe-trotting thrill seeker
Planning on strapping a bungee cord to your leg on your upcoming trip to New Zealand? Not only does travel insurance cover for trip cancellation, it can cover major medical treatment and emergency evacuation (not that you’ll need it, of course).
Surplus lines insurance for the celeb with a valuable body part
When a regular state-regulated insurer declines to insure certain risk—like, say, Mariah Carey’s legs—the policy can be written from a surplus lines insurer, which specialize in non-standard risk.